The Great Resignation & Making the Recruitment Process Easy

Introduction 

The last several months have been a tidal wave of resignations. Unexpectedly large numbers of people are choosing to walk out of their jobs to re-evaluate their options and priorities. 
 
A record 4.3 million people resigned in August, up 242,000 from July, according to the US Bureau of Labor Statistics (BLS).
 
This is the highest rate of unemployment the US has seen since the Great Depression. 
 
The American psychologist Anthony Klotz has called it the “Great Resignation” — a call to remap priorities in the work-life equation.
 
We see this trend catching up in India too. 
 
In India, many IT firms have witnessed a more than 20% attrition rate. Infosys saw its attrition rising by 620 basis points over the first quarter to 20.1%. Similarly, Wipro’s attrition rate reached 20.5% in Q2 of FY22, up from 15.5% in Q1. For HCL Technologies, the attrition rate touched an all-time high rate of 15.7%, up from 11.8% reported in the first quarter. Cognizant, the India born IT firm with more than 70% of employees working from the country, saw its attrition rate at 33% during this period.
 
                                                     Resignation spree in Indian technology sector graph
 
Employees are not ready to compromise. They want more. 
 
They are finally finding the voice to articulate their grievances about low pay, unrealistic deadlines, and bad bosses . Over the last year, the Reddit forum “r/antiwork”, which has been in existence since 2013, gained over 920,000 followers and saw more than 1,400 daily posts on average.
 
This further pushes employers to think about the future of work and building hybrid teams where employees are getting the benefits of working remotely, working fewer hours and more direct conversations with their superiors. 
 
Some companies like Atom Bank, a British bank is offering employees a 4 day work week. 
   
As a result of the Great Resignation, employers have to deal with two major challenges: 
  • Hiring new talent as soon as they can 
  • Finding tangible reasons to retain their existing employees
 
While retaining employees needs deep conversations and addressing specific issues, hiring new talent can pose an array of different challenges.

Challenges while hiring new talent: 

  • Can't find what you are looking for: Finding the right talent is a time consuming and often challenging process. Putting up job descriptions on job portals rarely does the trick. Businesses might not be able to find someone with the required skill sets to match their specific needs or culture fit. 
  • Finding the right people but cannot afford them: Finding and hiring talent is often hard and expensive. And is it especially difficult when you are looking for specific niche roles or for senior roles. 
  • It takes time: During a churn like the Great Resignation, it becomes doubly important to be able to fill urgent roles quickly and efficiently. But finding the right people takes time and energy. 
  • Performance issues: You spend time poring over resumes, vetting them, interviewing and hiring. But upon hiring, you see that the talent is unable to perform as per expectations. This is more common than one would expect. 
  • Attrition: This has become the buzzword now. After finding the right people, hiring them, training them  -  they leave!
 
                                                             Man scaling height and challenges with difficulty
 
While challenges are galore, here is what we, at FlexiBees can do to help you during this transition - to find cost-effective and flexible options: 

How we can help:

We address hiring needs with our secret sauce to find the right talent!
 
                                                                           How FlexiBees meets hiring needs by finding the right talent
 
We take on the onus of finding and evaluating the talent to give our clients the best match.
 

How we help you: 

  • We Map Roles to Skills needed: We first understand the business need and what kind of talent you need. And map the roles to the skills. 
  • We bring you candidates through our deep vetting process, so you don’t have to spend time going through hundreds of resumes but look at the ones that are perfectly matched to your specific needs. This not only saves time but also cost as we are able to provide flexible talent - i.e. part-time, project-based and remote talent via affordable models. We have a deep selection that evaluates candidates on skills and Flexible Working Ability (Flex-Ability TM), so that the talent fits perfectly with what you are looking for. 
  • We provide constant support post-placement, using various management tools & interventions, whenever needed -  so that you can focus your energy on the growth of the business and leave the hiring and management to us!
 

Benefits We Provide: 

  • Saving time
  • Saving costs 
  • Matching exactly what you need to the talent available 
  • Post- placement support 

Conclusion

While the way we work is changing and talent is demanding more, it is time to provide flexible working options and build hybrid teams. Shorter work weeks and Work From Anywhere are becoming the norm today. While evolving your own ways of working and the culture within your organizations, we at FlexiBees, can help you find the right talent via flexible and cost-effective ways. 
 
Click here to explore how we can help.